This is a case study demonstrating how innovation can be applied across sectors and how an established industry can be transformed by technology.
Appropriate Subject Area(s):
Entrepreneurship, marketing, digital transformation
Key Questions to Explore:
- How do innovations move across sectors?
Introduction to lesson and task:
This is a case study of an innovative startup in a well-established sector.
Action (lesson plan and task):
- Before distributing the article for reading ask students to examine the title. What does it mean to “Uber-ize” something? Write the descriptors on the board.
- Distribute the article for reading.
- Have a discussion about the premise behind Second Closet. How does it differ from traditional storage companies? Use a Venn diagram to outline the distinctions and where they have commonalities.
- Ask students how Mark and David Ang found the capital to launch their venture.
- Ask them what they think was the attraction for investors.
- Have them describe the target customer for Second Closet.
- How do they recommend Second Closet communicate with their target market?
Consolidation of Learning:
- Second Closet has major expansion plans. What advice would students give Mark and David Ang as they set out to grow their venture?
- Students understand the impact of technology in designing and developing a business.
- In groups of four, students should brainstorm other industries that would benefit from implementing technology solutions to make them more efficient and better. What solutions do they suggest by industry?